"Sarkozy went as far as banging his fist on the table and threatening to leave the euro," one unnamed Zapatero colleague told the paper. "That obliged Angel Merkel to bend and reach an agreement."

The French had Spain, Italy, Portugal and the European Commission lined up behind them. On the other side stood Germany, ranged alongside the Dutch, the Austrians and the Finns, all quietly hoping Merkel would prevail.

...

Sarkozy's famous victory is less than final - and he might yet regret his showdown with a chancellor of Germany.